A 10-year plan is your personal roadmap to achieving long-term financial goals and living life on your own terms. Whether you’re growing a business, managing a side hustle, or planning your exit strategy, having a well-defined vision will help you stay focused and in control of your future. Instead of being reactive to life’s twists
Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit with the IRS. As many of you can imagine, an audit can be expensive and time-consuming, not to mention, emotionally draining experience. Please take these to heart.
This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2025
How many of you build, track and utilize credit card points for personal benefit? You can pay your taxes using a major credit card or a debit card online. Individuals can make these payments 24 hours a day and seven days a week.
The new law first imposes a lower dollar limit on mortgages qualifying for the home mortgage interest deduction. Beginning in 2018, taxpayers may only deduct interest on $750,000 of new qualified residence loans ($375,000 for a married taxpayer filing separately), and the limits apply to the combined amount of all mortgage loans. Moreover, the extra $100,000 of home equity interest is gone entirely.
Small-business owners have more options to save on healthcare and insurance costs than any other group of Americans! It simply takes a little bit of research and consulting with professionals to create the perfect plan for you.
If properly created and maintained, the Series LLC may be an extremely useful tool for investors with multiple investment properties.
The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.
This is a common question we are asked on a regular basis and an important one. In fact, it tends be a common concern with Canadian clients doing real estate projects in the U.S. Here are some basics that can help you if you are a foreigner or investing with a foreign partner. Why an
The real question is where the asset is, not where you live. The goal of the DAPT is to protect the ‘asset’ from your liabilities, not to protect ‘you’.
There comes a time in the lifespan of just about every business when the potential for substantial growth comes to fruition, and additional capital is necessary to make that growth happen. It’s at these moments you’ll probably start looking for people to invest in your business.
When to use an LLLP… I have searched far and wide for a good reason to have an LLLP versus using another form of doing business and frankly, I can’t find one. I never recommend them. Although, they have been adopted in now more than 20 states as a more unique asset protection tool, whoever
